09 February 2022 Wednesday
New package for the money under the pillow
Turkish Treasury and Finance Minister Nureddin Nebati indicated yesterday and the day before that a major package relating to financial markets will be announced in the near term.
Turkish Treasury and Finance Minister Nureddin Nebati stated that they intend to incorporate the gold under the pillow into the system through this package. It is estimated that there is approximately 5,000 tons of gold under the pillow.
As Nebati put it, "This equates to between $250 and 350 billion dollars. A portion of this will be used to assist the Central Bank and meet foreign exchange requirements." "But most crucially," Nebati continued, "an instrument that will contribute to the promotion of the Turkish Lira (TL), the currency on which our model is based, has been included."
